Deutsche Cuts Price Target on Express Scripts (ESRX) Following New Guidance
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Price: $92.33 --0%
Rating Summary:
6 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Deutsche is reaffirming its Buy rating on shares of Express Scripts (NASDAQ: ESRX), but is lowering its price target from $59 to $52.
The company cut its FY11 EPS guidance from $3.15-$3.25 to $2.95-$3.05 while releasing its FY12-FY14 estimates at $3.96, $4.71, and $5.55, all well above the firm's estimates and the consensus. Management noted that the lower guidance was due to weaker than expected script volumes.
An analyst at Deutsche comments, "We contend this should provide a floor for the stock (up 9% as we publish), and we see several +ve catalysts over the M-T. Based on our +ve outlook for the MHS combination."
To go inline with current market trends and ESRX's new guidance, Deutsche is lowering its FY11 and FY12 EPS estimates from $3.15 and $3.80 to $3.00 and $3.55.
For more ratings news on Express Scripts click here and for the rating history of Express Scripts click here.
Shares of Express Scripts closed at $35.94 yesterday.
The company cut its FY11 EPS guidance from $3.15-$3.25 to $2.95-$3.05 while releasing its FY12-FY14 estimates at $3.96, $4.71, and $5.55, all well above the firm's estimates and the consensus. Management noted that the lower guidance was due to weaker than expected script volumes.
An analyst at Deutsche comments, "We contend this should provide a floor for the stock (up 9% as we publish), and we see several +ve catalysts over the M-T. Based on our +ve outlook for the MHS combination."
To go inline with current market trends and ESRX's new guidance, Deutsche is lowering its FY11 and FY12 EPS estimates from $3.15 and $3.80 to $3.00 and $3.55.
For more ratings news on Express Scripts click here and for the rating history of Express Scripts click here.
Shares of Express Scripts closed at $35.94 yesterday.
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